01848cam a22002417 4500001000700000003000500007005001700012008004100029100002100070245008400091260006600175490004200241500001800283520085800301530006101159538007201220538003601292690008401328710004201412830007701454856003801531856003701569w10242NBER20150303152527.0150303s2004 mau||||fs|||| 000 0 eng d1 aBettinger, Eric.10aHow Financial Aid Affects Persistenceh[electronic resource] /cEric Bettinger. aCambridge, Mass.bNational Bureau of Economic Researchc2004.1 aNBER working paper seriesvno. w10242 aJanuary 2004.3 aThe Pell Grant program is the largest means-tested financial assistance available to postsecondary students across the United States, yet researchers have only limited evidence on the causal effects of these grants. This paper examines the effect of Pell grants on student persistence after the first year. The paper uses unique, student-level data from all public colleges in Ohio. The data include detailed financial data which allow me to identify small discontinuities in the Pell grant formula. I exploit these discontinuities to identify the causal effects of the voucher. The results based on discontinuity approaches suggest that Pell grants reduce college drop-out behavior. The results in this paper support other evidence that find a relationship between need-based aid and college completion (e.g. Dynarski 2002, Turner and Bound 2002). aHardcopy version available to institutional subscribers. aSystem requirements: Adobe [Acrobat] Reader required for PDF files. aMode of access: World Wide Web. 7aI2 - Education and Research Institutions2Journal of Economic Literature class.2 aNational Bureau of Economic Research. 0aWorking Paper Series (National Bureau of Economic Research)vno. w10242.4 uhttp://www.nber.org/papers/w1024241uhttp://dx.doi.org/10.3386/w10242